INSURANCE

Car Insurance Companies with the Lowest Premiums (October 2021)

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Geico’s average annual premium of $1,192 is significantly lower than most of the companies in our analysis, saving roughly 15% compared to the national average of $1,397. Because Geico is one of the top businesses in our overall rankings, there are few drawbacks to picking it for complete coverage.

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How to Get the Most Affordable Auto Insurance Quotes

We’ve done the legwork to figure out which major car insurance companies are likely to provide you the cheapest prices, but you won’t know how much you’ll pay until you get quotes.

Insurance firms base their prices in part on data showing that older and married drivers file fewer claims. You can’t fake your age or get married solely to save money on insurance. However, you can use the following actions to save money on auto insurance and receive the best deal:

Shop Around

The first step toward finding low-cost vehicle insurance is to compare rates from various firms. Make sure to inquire with each insurer about how you can alter your coverage to meet your current needs.

Inquire about discounts.

Almost every insurance company offers discounts to its consumers. Lower customer loyalty rates, a clean driving record, and decent grades are just a few examples.

Boost Your Credit Score

Drivers with weak credit ratings are penalized in most states by paying higher insurance premiums. Maintaining a decent credit score, or taking steps to enhance your credit score, will almost certainly result in a lower premium.

Combine your insurance policies.

When you acquire two or more policies from the same company, you will usually get a discount. This could involve adding a renter’s or homeowner’s policy to your policy, as well as combining coverage for several vehicles.

Methodology – How We Collected Our Car Insurance Rates

To get comparative insurance rates for this study, U.S. News worked with Quadrant Information Services to analyze a report of insurance rates in all 50 states from most of the largest national car insurance companies, though not every company operates in every state. Quadrant obtained publicly available rate data that car insurers file with state regulators. Our study rates are based on profiles for both male and female drivers aged 17, 25, 35, and 60. Vehicles used include the 2015 Honda Civic, 2015 Toyota RAV4, and 2015 Ford F-150, with annual mileage ranging from 6,000 and 12,000. Three car insurance coverage levels were used, as were credit tiers of good, fair, and poor. Clean driving records, as well as records with one accident, one speeding violation, or one DUI were also used in the calculations of certain driver archetypes.

We calculated the mean rate for male and female drivers ages 17, 25, 35, and 60 who drive 12,000 miles per year, have medium coverage, decent credit, and a clean driving record to arrive at the study rates given here. The rates displayed here are only for comparison purposes and should not be regarded as “average” rates offered by particular insurers. Your auto insurance rates will differ from the rates given here because they are based on individual circumstances.

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